Calls Purchased on Avnet

Shares of Avnet (NYSE: AVT) are higher on the session by 0.61%, currently trading at $27.77. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average.

Options traders are buying calls on the name today. A short while ago the August 2011 $27.00 call traded 1,200 times on open interest of 2,032 contracts. Overall call volume is now running at 2.31x the daily average with 68% of all calls traded being purchases on the offer.

Avnet, Inc., along with its subsidiaries, is an industrial distributor of electronic components, enterprise computer and storage products and embedded subsystems.